First Trust High Income Strategic Focus ETF Forecast
First Trust High Income Strategic Focus ETF price ended at $43.77 on Friday, after losing 0.255%.
(Updated on Jun 28, 2024)
The First Trust High Income Strategic Focus ETF price fell by -0.255% on the last day (Friday, 28th Jun 2024) from $43.89 to $43.77. It has now fallen 4 days in a row. During the last trading day the ETF fluctuated 0.461% from a day low at $43.77 to a day high of $43.98. The price has fallen in 6 of the last 10 days and is down by -0.8% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -2 thousand shares and in total, 512 shares were bought and sold for approximately $22.41 thousand.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect First Trust High Income Strategic Focus ETF with a 90% probability to be traded between $43.98 and $44.83 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HISF Signals & Forecast
The First Trust High Income Strategic Focus ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $44.03 and $43.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -0.88%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
A sell signal from a double top formation was found on Tuesday, June 18, 2024 and based on theory for this formation the price should fall by -2.66% to $42.61 within 23 trading days since signal was issued (Tuesday, July 23, 2024).
Support, Risk & Stop-loss for First Trust High Income Strategic Focus ETF
First Trust High Income Strategic Focus finds support from accumulated volume at $43.62 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.202 between high and low, or 0.461%. For the last week the ETF has had daily average volatility of 0.255%
Our recommended stop-loss: $42.03 (-3.98%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (HISF) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect First Trust High Income Strategic Focus Etf to open at $43.84, and during the day (based on 14 day Average True Range), to move between $43.63 and $43.92, which gives a possible trading interval of +/-$0.145 (+/-0.33%) up or down from last closing price. If First Trust High Income Strategic Focus Etf takes out the full calculated possible swing range there will be an estimated 0.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $43.92 (0.34%) than the support at $43.62 (0.34%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is First Trust High Income Strategic Focus Etf ETF A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.223 Buy Candidate Unchanged
Predicted Opening Price for First Trust High Income Strategic Focus Etf of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $43.84 ( 0.154%) | $43.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HISF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.04 | 0.614% |
| R2 | 43.97 | 0.438% |
| R1 | 43.92 | 0.330% |
| Price | 43.77 | |
| S1 | 43.76 | -0.0224% |
| S2 | 43.72 | -0.131% |
| S3 | 43.64 | -0.307% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.01 | 0.529% |
| R2 | 44.00 | 0.515% |
| R1 | 43.92 | 0.335% |
| Price | 43.77 | |
| S1 | 43.62 | -0.345% |
| S2 | 43.47 | -0.693% |
| S3 | 43.11 | -1.52% |
HISF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 21, 2024 | May 31, 2024 | $0.168 | 0.384% |
| 2 | Apr 22, 2024 | Apr 23, 2024 | Apr 30, 2024 | $0.167 | 0.387% |
| 3 | Mar 20, 2024 | Mar 21, 2024 | Mar 28, 2024 | $0.164 | 0.371% |
| 4 | Feb 20, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.164 | 0.372% |
| 5 | Jan 22, 2024 | Jan 23, 2024 | Jan 31, 2024 | $0.169 | 0.378% |
FAQ
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